The Minister of Economy, Sergio Massa, held a working meeting on Tuesday with the President of YPF, Pablo González, with whom you discussed the plans investment of the company for the current year and the reactivation of the trans-andean pipelinewho was closed more than 10 years ago and will allow the export of crude oil to Chile.
During the meeting, Massa and Gonzalez They also highlighted the agreement reached in the United States to close the lawsuit for environmental contamination against the company Maxusfirm bought by the Argentine oil company in 1995.
YPF reached an agreement for the Maxus case in USAwhat perwill dismiss all actions filed against the Argentine oil company and against Repsol and will grant a full release and acquittal of the claims you filed at the time the Maxus Liquidation Trust for up to US$14 billion. YPF and Repsol agreed to pay the Trust an amount of US$287.5 million each, making a total of US$575 million. The amount to be paid by YPF is equivalent to only 2% of the original amount of the claim.
Likewise, the Minister of Economy and the head of the oil company discussed the prompt reactivation of the trans-Andean pipelinescheduled for the end of April, beginning of May.
He Trasandino Pipeline (Otasa), that links Dead cow with Chile and which has been inactive since 2006, began with the necessary tests for its rehabilitation, which would allow, at the beginning of 2023, to add the transport of more than 100,000 barrels of Neuquén shale oil exports, as reported by the Télam agency at the end of 2022.
The binational system, which has YPF, Chevron and ENAP as the main shareholders, it has an extension of 427 kilometers and the objective is to rehabilitate it after 16 years of inactivity in order to guarantee the dispatch of oil to Chile and the Pacific markets.
Besides, Massa and Gonzalez they analyzed the presentation before Congress of the bill for the production of Liquefied Natural Gas (LNG), and the expected price path for fuels.
As Ámbito learned, Massa will move forward this week with the LNG bill. The regulatory framework is a necessary condition for millionaire investments to begin in at least three projects. Despite the opportunity provided by the geopolitical context, and the need to move forward to take advantage of a limited time window for hydrocarbons, sources in the sector assure that there are various obstacles to making progress.
The meeting also participated paul lullianoCEO of YPF.
Source: Ambito
